The clinic$$s COO asks you to create a budgeted income statement $($also called a profit and loss statement$)$ for the clinic for the upcoming fiscal year. She has asked an intern to create a volume budget, a revenue budget, and an expense budget. These are provided for you on the first worksheet $($titled "Budget"$)$ of this Google Sheet Links to an external site.

Review the expense budget for the medical and dental department. Based on what you see there, which expense category do you think is a variable expense and which category do you think is a fixed expense?

1 2 Budget 3 Volume 4 Medical visits 13800 5 Dental visits 20700 6 Total 34500 7 8 Revenue 9 Average collected amount (after insurance discounts) 10 Medical visit $205 $105 11 Dental visit 12 13 Expenses 14 Medical department 15 Salaries $1,223,600 16 Supplies (per visit) $15 17 Dental department 18 Salaries $824,600 19 Supplies (per visit) $25 20 Administration 21 Salaries $425,600 22 Supplies $175,000 23 Facilty rent $1,200,0 24 Equipment lease $125,0 Copy 25